Marks & Spencer (M&S) is grappling with the fallout from a cyber-attack that has rendered its website inoperable, preventing customers from placing online orders for several weeks. The retailer forecasts a £300 million hit to profits, which will only be partially offset by insurance. While it confirmed that sensitive payment information was not compromised, some personal data, including addresses and order histories, was stolen. The attack, attributed to the hacker group 'Scattered Spider', affected M&S more severely than other retailers targeted by the group, like Co-op and Harrods. Normal operations are expected to resume gradually by July.
M&S estimates that the cyber attack will hit this year's profits by around 300m - more than analysts had expected, equivalent to a third of its profit.
Following the cyber attack, M&S assured customers that the data theft did not include useable payment or card details, but added that online order histories could be stolen.
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